Confidence interval estimate for the population

Assignment Help Business Economics
Reference no: EM131089589

The data below represents the overall miles per gallon? (MPG) of 2008 SUVs priced under? $30,000. Complete parts a and b below.

A. Construct a 95% confidence interval estimate for the population mean miles per gallon of 2008 SUVs priced under $30,000 assuming a normal distribution. (Round to two decimal places)

B. Interpret the interval constructed in? (a). Choose the correct answer below.

A. With 95?% confidence, the mean miles per gallon in the sample of 2008 SUVs is the population mean.

B. With 95?% ?confidence, the mean miles per gallon in the population of 2008 SUVs is somewhere in the interval.

C. With 95?% confidence, the mean miles per gallon in the population of 2008 SUVs is the sample mean.

D. With 95?% ?confidence, the mean miles per gallon in the sample of 2008 SUVs is somewhere in the interval.

Reference no: EM131089589

Questions Cloud

Mundell-fleming model under floating rates : Public Affairs 854 Spring 2013 - Midterm 2. Suppose the interest rate in the rest of the world exogenously falls. Show what happens both immediately and over time. Clearly label new equilibrium values of output and interest rates, and indicate curv..
Equilibrium quantity of savings-investment-interest rate : Use two graphs to analyze the effects of the following shocks on the equilibrium quantity of savings, investment, the interest rate, and the current account in a world with two large countries. Assume that both countries begin with a balanced current..
How would a more controlled access to credit by firms : How would a more controlled access to credit by firms and individuals have reduced the over leveraging of businesses and individuals and decreased the likelihood of the recent economic downturn?
Discuss elements that are used across genres : Discuss elements that are used across genres, such as setting, plot, characters, point of view, and symbolism.
Confidence interval estimate for the population : The data below represents the overall miles per gallon? (MPG) of 2008 SUVs priced under? $30,000. Construct a 95% confidence interval estimate for the population mean miles per gallon of 2008 SUVs priced under $30,000 assuming a normal distribution. ..
Prepare the ground rules for the negotiation : Betchem Manufacturing Company is into the production of kitchen knife with staff strength of 60. The company makes profit between the ranges of 200000 and 280000 Ghana cedis per annum, but for 10 years now, the company is not making any effort to ..
Shocks on the equilibrium quantity of savings : Use a graph to analyze the effects of the following shocks on the equilibrium quantity of savings, investment, the interest rate, and the current account in a small open economy. Assume that the economy begins with a balanced current account. Label e..
What is the present value of three investments : What is the present value of each if these three investments if the appropriate discount rate is 13% - The cash flows from these three investments.
The benefits that result from implementingthe technologies : What are the benefits that result from implementingthe technologies described in the case? How are thosedifferent for hospitals, doctors, insurance companiesand patients? Provide examples of each from the case.

Reviews

Write a Review

Business Economics Questions & Answers

  In monopoly and the terms price maker

The terms price maker, price setter, and price searcher are all meant to imply the same thing, In monopoly,

  Result in an increase in the quantity demanded

Since a decrease in the price of 1 unit along a linear demand curve will result in an increase in the quantity demanded by a constant amount, the price elasticity is constant for all quantities along a linear demand. True or False & Explain

  Sufficient conidtion for political freedom-hypothesis

Milton Friedman said the free markets are a necessary but not sufficient conidtion for political freedom. Which of the following events would support Milton's hypothesis?

  Accident while driving off-road vehicle made by drivers edge

Chase is injured in an accident while driving an off-road vehicle made by Drivers Edge, Inc., an out-of-state corporation. Chase files a suit against Drivers Edge, alleging negligence, and mails a summons and a copy of the complaint to the firm by ce..

  Utility function for silver bells and cockle shells

Jane, like Mary, grows silver bells and cockle shells in her garden, only she doesn’t have any space constraints. She does have a money constraint: she can only spend 500 pence (p) on flowers. Like Mary, Jane has a utility function for silver bells (..

  Contracts the removal of small amounts of hydrogen sulfide

Burling Water Cooperative currently contracts the removal of small amounts of hydrogen sulfide from its well water using manganese dioxide filtration prior to the addition of chlorine and fluoride. Assume payment is made at the end of each contract y..

  What is price elasticity of supply at the equilibrium price

The demand for tickets to the Daytona 500 Nascar event is given by the equation Qd?=350,000- 800p. The supply of tickets to the event is given by the capacity of the Daytona track, which is 150,000. What is the equilibrium price of tickets to the eve..

  Examine kano analysis of customer requirements

Examine KANO Analysis of customer requirements also come up with some questions (also answers) concerning it.

  Compare the analysis to that of profit-maximizing monopoly

where p is the input price, and a, b, α, β > 0. Find the profit-maximizing price and quantity of the input the monopsonist will choose, and compare the analysis to that of the profit-maximizing monopoly

  How to produce and for whom to produce

mixed economic systems answer the three fundamental economic questions of what to produce, how to produce, and for whom to produce, including global environments

  What is the agreement between manufacturers and distributors

the manufacturer of perfume enters into agreement with several distributor about the price at which the distributors can resell the perfume. The manufacturers who do not agree to the pricing suggestion are not able to sell the perfume.what is  The..

  Q1 research the current demand for a good or service of

q1. research the current demand for a good or service of your choice. collect information that will affect the demand

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd